Luzich Partners LLC Cuts Holdings in Oclaro Inc (OCLR)
Luzich Partners LLC lowered its holdings in shares of Oclaro Inc (NASDAQ:OCLR) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,675 shares of the semiconductor company’s stock after selling 172,389 shares during the period. Oclaro comprises 1.8% of Luzich Partners LLC’s portfolio, making the stock its 14th largest holding. Luzich Partners LLC owned approximately 0.15% of Oclaro worth $2,172,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its position in Oclaro by 120.0% during the second quarter. BlackRock Inc. now owns 16,827,106 shares of the semiconductor company’s stock worth $157,166,000 after acquiring an additional 9,177,551 shares during the last quarter. Greenwood Capital Associates LLC raised its position in Oclaro by 3.4% during the second quarter. Greenwood Capital Associates LLC now owns 45,494 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 1,483 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Oclaro by 16.2% in the second quarter. Pinnacle Associates Ltd. now owns 168,715 shares of the semiconductor company’s stock valued at $1,576,000 after buying an additional 23,525 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Oclaro by 1,727.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 105,789 shares of the semiconductor company’s stock valued at $913,000 after buying an additional 100,000 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Oclaro by 59.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,556,047 shares of the semiconductor company’s stock valued at $14,533,000 after buying an additional 577,873 shares during the last quarter. Institutional investors own 70.66% of the company’s stock.
In related news, insider Thomas Gordon Beck Mason sold 39,255 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $7.22, for a total value of $283,421.10. Following the completion of the sale, the insider now directly owns 171,226 shares in the company, valued at $1,236,251.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Michael H. Fernicola sold 7,016 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $6.21, for a total transaction of $43,569.36. Following the completion of the sale, the chief accounting officer now owns 81,378 shares of the company’s stock, valued at $505,357.38. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on OCLR shares. Raymond James Financial started coverage on shares of Oclaro in a research report on Thursday, September 14th. They issued a “strong-buy” rating and a $12.00 price objective for the company. Cowen reissued a “buy” rating on shares of Oclaro in a research report on Friday, November 3rd. Needham & Company LLC lowered shares of Oclaro from a “strong-buy” rating to a “buy” rating and cut their price objective for the company from $14.00 to $9.00 in a research report on Thursday, November 2nd. Northland Securities reissued a “buy” rating and issued a $12.75 price objective on shares of Oclaro in a research report on Wednesday, November 1st. Finally, Craig Hallum lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $12.67.
Shares of Oclaro Inc (NASDAQ OCLR) opened at $7.16 on Friday. Oclaro Inc has a twelve month low of $5.86 and a twelve month high of $11.30. The stock has a market cap of $1,193.28, a P/E ratio of 9.06, a P/E/G ratio of 1.03 and a beta of 1.31.
Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, November 1st. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Oclaro had a net margin of 24.31% and a return on equity of 28.11%. The firm had revenue of $155.60 million during the quarter, compared to the consensus estimate of $154.51 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Oclaro’s revenue was up 14.8% compared to the same quarter last year. analysts forecast that Oclaro Inc will post 0.51 EPS for the current fiscal year.
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Oclaro Company Profile
Oclaro, Inc is a provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Company provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.
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